CAIRO- 24 May 2022: President Abdel Fattah El Sisi directed the government to continue strengthening the existing efforts to attract foreign investments to the Suez Canal Economic Zone in the field of clean energy production, particularly green hydrogen and its various industrial applications, to maximize the benefit from the strategic and vital location of the Canal.
“This contributes to it becoming a lucrative and leading region in the world in this emerging industry, as well as transforming it into a global logistic center for green bunkering ships,” said Presidential Spokesperson Bassam Rady in a statement on Monday.
President Sisi’s directives were given during a meeting with Prime Minister Dr. Mostafa Madbouly, Minister of Electricity and Renewable Energy Dr. Mohamed Shaker, and Chairman of the General Authority for the Suez Canal Economic Zone (SCZone) Eng. Yehia Zaki.
The meeting discussed the projects of green hydrogen production nationwide and focused on the latest developments in cooperation efforts with international companies in the field of green hydrogen generation using renewable energy, Rady continued.
“These efforts are being made as part of the national strategy that aims to maximize the share of clean energy in the country’s electrical capacity mix to reach 42 %, given Egypt’s huge clean energy potential, especially wind and solar power,” he said.
This shall come for the benefit of Egypt’s efforts to become a passageway for the transit of clean energy and a pivotal hub for electrical interconnection between Europe and Arab and African countries, Rady continued.
President El-Sisi stressed the need to maximize the local components of the green hydrogen production system, particularly electrolysis devices, which are the mainstay of this industry.
The President underlined the need to study increasing the capacities generated by wind turbines by relying on urtla-high turbines with large generating capacities, in order to maximize the utilization of wind energy in several geographical locations across the nation.
The Green Energy Passageway project in Egypt was also reviewed due to its aims to facilitate the integration of renewable energy sources on a large scale into the national electric grid, and then accelerate the development of renewable energy potential in Egypt in order to maximize energy supplies supporting the comprehensive national development process, as well as electrical interconnection projects with neighboring countries and export of renewable energy.
The Spokesman said the meeting also discussed efforts to localize green hydrogen and green ammonia projects in the economic zone of the Suez Canal, as well as the proposed sites for these projects in the industrial zones and ports affiliated with the Suez Canal Authority.